New York, US, June 28, 2021 (GLOBE NEWSWIRE) -- 3D Radar Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “3D Radar Market Information by Platform, Range, and Region - Forecast till 2026,” the market is estimated to grow considerably at a CAGR of 19.12% during 2020 to 2026.
Market Scope and Drivers:
The 3D radar market expansion can be attributed to the increase in demand for surveillance, weather monitoring, and security purposes, across the expanding defense sector. The increase in application of 3D radar for range, elevation, and bearing can contribute the market upsurge as it is used to measure all three space coordinators, effectively.
The rise in miniaturization of 3D radars and the increasing adoption of advanced materials for the manufacture of lightweight 3D radars can promote the 3D Radar Market in the years ahead. However, problems related to vulnerabilities of completely automated 3D radar and high expense of development can hamper the expansion of the worldwide market. On the other hand, the rise in adoption of 3D radars at multiple airports to boost surveillance can counter the market slowdown in the year to come. In addition, the early adoption of 3D radar solutions and rapid modernization of airport systems in both civil airports and military can boost the market expansion. The need for robust detection in aircraft engineering and the upscaling demand to curb visibility obstructions can promote the need for 3D radars, thus can bolster the market rise in the years ahead.
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Key Players Locking Horns:
- Lockheed Martin Corporation (US)
- Raytheon Technologies Corporation (US)
- Indra Sistemas, S.A. (Spain)
- Northrop Grumman Corporation (US)
- Thales Group (France)
- BAE Systems (UK)
- Airbus SAS (The Netherlands)
- Honeywell International Inc. (US)
- Saab AB (Sweden)
- L3Harris Technologies, Inc. (US)
Browse In-depth Market Research Report (168 pages) on 3D Radars: https://www.marketresearchfuture.com/reports/3d-radar-market-10315
Market Segmentation
The segment analysis of the 3D radar market is done by platform, range, and frequency band.
The platform-based segments of the 3D Radar Market are airborne, ground, and marine. The ground segment can dominate the worldwide 3D radar market by 2026. The hike in defense expenditures and increase in military modernization programs across different countries can drive the market segment in the years to come. The airborne segment can rise at high CAGR through the analysis period due to increase in efforts from governments to deploy 3D radars in aircraft and military choppers. In addition, the launch various programs introduced by the governments of several countries for the modernization of their air force are expected to drive the growth of the segment in the global market. The marine segment is likely to register a notable rise owing to the high rate of adoption of advanced naval vessels by developed economies, such as the UK, the US, and Russia.
The frequency band-based segments of the 3D radar market are C/S/X Band, L Band, and E/F Band. The C/S/X band segment can increase at the highest CAGR through the forecast tenure as these bands over enhanced efficiency, resolution, accuracy, and high frequency. The E/F band segment can register decent expansion rate as they assist in the identification of military radio spectrum and aid in crisis management planning, electronic warfare activities, training, and military operations. The L band segment can witness favorable rise as they are used for operating over wide ranges in applications, such as; global positioning systems (GPS), radars, aircraft surveillance, and radio telecommunications. The others segment includes the I band.
The range-based segments of the 3D radar market are long range, short range, and medium range. The long-range segment can dominate the worldwide 3D radar market by 2026. The increase in demand for different types of 3D radar systems for satellite transponders and weather forecasting can prompt the segment expansion. The expansion of the medium range segment can be attributed to rise in demand for different 3D radar systems that enhance target acquisition and surveillance. The short-range segment can rise at high CAGR as their demand is observed to rising in aircraft surveillance and telecommunications.
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Regional Status and Challenges:
In North America, the 3D radar market is expected to rise at high pace due to the presence of affluent companies, such as; Northrop Grumman Corporation and Lockheed Martin Corporation. As per MRFR study, Europe is anticipated to rise exponentially due to the introduction of naval modernization programs cross-countries. The UK is likely to stay of the regional market growth curve owing to the presence of a robust aviation base and rise in air force exercises. The expansion of 3D radar market in the Asia Pacific region can be attributed to the growing aerospace industry across India and Japan. The increasing need for 3D radars in the aviation sector can benefit the market in the years to come. In the Middle East region, the growing investments by governments from prominent countries, such as; Iran, UAE, and Israel, in the establishment of border security and airport security can also add to the rise of the 3D radar market in the Middle East region. The 3D market in the Rest of the World can exhibit moderate growth pace due to increase in defense budget allocation. The upscaling requirement to exercise effective surveillance in the military sector in countries, such as; Mexico, South Africa, and Brazil, can promote the market surge in RoW.
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